Mark Cuban recently did an AMA (Ask Me Anything) session on the WallStreetBets subreddit that has disrupted Wall Street in recent weeks.
During the Q&A session, Cuban advised:
“If you can afford to hold the stock, you hold. I don’t own it, but that’s what I would do. I have no idea. No one really does. I do think that once [Robinhood] and others open up buying some of these will pop up. I just don’t know how much or if it will happen for sure. I think the stocks are getting shorted because the shorts know that the natural buyers, the folks on RH and others like it are being prevented from buying, so that will make it most likely the stock will go down.”
The Mavericks owner also revealed his own personal beliefs on buying stock, stating, “When I buy a stock I make sure I know why I’m buying it. Then I HOLD until I learn that something has changed. The price may go up or down, but if I still believe in the logic that made me buy the asset, I don’t sell. If something changed that I didn’t expect, then I look at selling.”